BTC is moving back and forth above $80,000. Ahead of the U.S. market open, this is what I’m paying more attention to: it’s watching the Fed, not the crypto market.
Data: BTC around $80,180 (24h -0.3%), ETH $2,320, SOL $101. U.S. spot BTC ETFs saw a combined outflow of $772 million on Thursday and Friday, after mostly seeing net inflows the previous week. Weekend geopolitical tensions, along with oil prices, contributed to over $800 million in liquidations, with longs accounting for more than 80%.
My take:
1. The FOMC is highly likely to hold rates steady on Wednesday. The key question is whether the chair will hint at a rate hike in December.
2. $80,000 is the cost-basis zone for ETF holdings. If the daily close falls below it, the next level to watch is $77,600.
3. A recovery above $82,500 is needed to signal that the decline has stalled.
4. ENA (+6.7%) and UNI (+4%) are bucking the trend. DeFi is slightly stronger, but volume is low, so I wouldn’t chase it.
After the U.S. market opens tonight, I’ll be watching to see whether $80,000 holds. Do you think it will?
$BTC $ETH $SOL #BTC #FOMC
Personal views only; not investment advice.
Data: BTC around $80,180 (24h -0.3%), ETH $2,320, SOL $101. U.S. spot BTC ETFs saw a combined outflow of $772 million on Thursday and Friday, after mostly seeing net inflows the previous week. Weekend geopolitical tensions, along with oil prices, contributed to over $800 million in liquidations, with longs accounting for more than 80%.
My take:
1. The FOMC is highly likely to hold rates steady on Wednesday. The key question is whether the chair will hint at a rate hike in December.
2. $80,000 is the cost-basis zone for ETF holdings. If the daily close falls below it, the next level to watch is $77,600.
3. A recovery above $82,500 is needed to signal that the decline has stalled.
4. ENA (+6.7%) and UNI (+4%) are bucking the trend. DeFi is slightly stronger, but volume is low, so I wouldn’t chase it.
After the U.S. market opens tonight, I’ll be watching to see whether $80,000 holds. Do you think it will?
$BTC $ETH $SOL #BTC #FOMC
Personal views only; not investment advice.